Google Buys AdMob for $750m

Google is buying mobile ad network AdMob for $750 million (£448 million). AdMob says it is extremely excited about the new partnership and what it means for its publishers. In a statement to publishers, Admob Founder Omar Hamoui says:

"AdMob's people, products and tools will continue to work to effectively monetize mobile traffic with no interruptions. Our product and engineering teams will keep building great products for our customers. Our sales team will keep working with our thousands of advertisers to deliver successful campaigns.

"After our deal closes, AdMob will work with Google to accelerate the pace of innovation in mobile and do an even better job for you."

Hamoui concludes by saying that he believes the deal will benefit the company's developer and publisher partners by:

• Building even more powerful technology and tools to monetize mobile traffic.
• Increasing the effectiveness of display advertising on mobile devices by leveraging Google's sales team, infrastructure and relationships.
• Improving the already high level of service and support the company delivers to its publishers.